08 April 2008

Bear said the NYSE approved the company's issuance of 95 million shares to JPMorgan. The exchange accepted Bear Stearn's application of the financial viability exception to the NYSE's shareholder approval policy. The closing of the sale of the 95 million shares is expected to occur on or about April 8. Shares of Bear Stearns rose to $10.57 in recent after-hours trading after closing the regular session at $10.47.